{"id":1004145988,"date":"2016-06-14T07:45:51","date_gmt":"2016-06-14T15:45:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004145988"},"modified":"2022-03-03T00:43:32","modified_gmt":"2022-03-03T08:43:32","slug":"cushman-wakefield-brokers-32m-sale-of-187-ksf-office-campus-in-tampa-business-district","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-brokers-32m-sale-of-187-ksf-office-campus-in-tampa-business-district\/","title":{"rendered":"Cushman & Wakefield Brokers $32M Sale of 187 KSF Office Campus In Tampa Business District"},"content":{"rendered":"

By Robert Demeter<\/em><\/p>\n

\"Corporate<\/a>

Building III<\/em><\/p><\/div>\n

Tampa<\/strong>\u2013Cushman & Wakefield<\/a> recently brokered the $32 million sale of Corporate Oaks, a 186,854-square-foot office campus located in Tampa\u2019s Westshore business district. The Capital Markets team comprised of Executive Director Mike Davis, and Senior Directors Rick Brugge and Michael Lerner represented the seller in the disposition. Connecticut-based Next Generation Net Lease Management LLC<\/a> was the buyer.<\/p>\n

Developed in 1983, The Corporate Oaks spreads across 11.4 acres and is located at 5405, 5445 and 5505 West Cypress Streeton. The office campus is comprised of three three-story office buildings, equipped with full-building backup generators, two elevators, a central staircase and covered exterior walkways. The campus includes an on-site deli, fitness center, as well as a three-story parking garage and surface parking. The property provides convenient access from both sides of Tampa Bay, and it is located near the Tampa International Airport and only 10 minutes from downtown Tampa.<\/p>\n

New York Life Insurance Co.<\/a> fully occupies The Corporate Oaks campus with approximately 920 employees. The company houses the insurer\u2019s AARP program headquarters on a long-term insurance lease that runs through 2024.<\/p>\n

Over $1.5 million in improvements have recently been invested into the property, including upgrades to interior finishes, elevators, HVAC systems and the parking garage. Additionally, New York Life has invested $2.7 million in interior upgrades.<\/p>\n

\u201cCorporate Oaks provided investors with the opportunity to acquire a recently renovated asset in a premier location with a highly rated credit tenant in place on a long-term lease,” said Davis in prepared remarks. \u201cOpportunities such as this are very rare, and it garnered a tremendous amount of interest.\u201d<\/p>\n

\u201cThe asset\u2019s irreplaceable location in the heart of Tampa\u2019s Westshore district drove demand from single-tenant net lease buyers as well as conventional real estate players,\u201d added Brugge.<\/p>\n

Image\u00a0courtesy of Yardi Matrix<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Corporate Oaks is comprised of three office buildings 100 percent leased by New York Life Insurance Co.<\/p>\n","protected":false},"author":59,"featured_media":1004145991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1612],"tags":[],"class_list":["post-1004145988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-tampa"],"acf":[],"yoast_head":"\nCushman & Wakefield Brokers $32M Sale of 187 KSF Office Campus In Tampa Business District - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-brokers-32m-sale-of-187-ksf-office-campus-in-tampa-business-district\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman & Wakefield Brokers $32M Sale of 187 KSF Office Campus In Tampa Business District\" \/>\n<meta property=\"og:description\" content=\"Corporate Oaks is comprised of three office buildings 100 percent leased by New York Life Insurance Co.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-brokers-32m-sale-of-187-ksf-office-campus-in-tampa-business-district\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-14T15:45:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T08:43:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/7219.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-brokers-32m-sale-of-187-ksf-office-campus-in-tampa-business-district\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-brokers-32m-sale-of-187-ksf-office-campus-in-tampa-business-district\/\",\"name\":\"Cushman & Wakefield Brokers $32M Sale of 187 KSF Office Campus In Tampa Business District - 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